US bank wants 'Bitcoin-like' scheme - BBC News

Crypto Weekly Recap for the week ending July 20 - Enjoy

Developments in Financial Services


General News

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JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency.. Like Bitcoin, JPMorgan’s proposed ... Zero Hedge December 16, 2013. Earlier in the week, we detailed JPMorgan’s attempt to create their own “web cash” alternative to Bitcoin (and Sberbank’s talk of doing the same).However, as M-Cam details, following the failure of the first 154 ‘claims’, JPMorgan issued a further 20 claims – which were summarily rejected (making JPMorgan 0-175 for approved claims). JPM is imagining a future in which we’ll be using “virtual cash” to make and receive payments, and the currency itself will be secure and anonymized.This sounds a lot like Bitcoin and other ... Another feature of JPMorgan’s patented digital wallet is the security it provides to online shoppers, who will be able to store virtual money into accounts, which, like bitcoin, is secured through cryptography, thus guaranteeing no breaches of security in the transaction between consumer and manufacturer. US bank JP Morgan Chase has filed for a patent in the US to develop a payment system using "virtual cash", similar to the emerging online currency, Bitcoin. JP Morgan said that, like Bitcoin, the ...

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